Cardinal Health, Inc. (NYSE:CAH) Given Average Recommendation of “Hold” by Analysts

by · The Cerbat Gem

Cardinal Health, Inc. (NYSE:CAH – Get Free Report) has been given an average rating of “Hold” by the eleven ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $99.23.

CAH has been the subject of a number of research analyst reports. Wells Fargo & Company initiated coverage on shares of Cardinal Health in a research note on Thursday, December 14th. They issued an “underweight” rating and a $96.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of Cardinal Health from $101.00 to $112.00 and gave the stock a “neutral” rating in a report on Friday, November 17th. TheStreet downgraded shares of Cardinal Health from a “b-” rating to a “c+” rating in a report on Wednesday, December 27th. Evercore ISI dropped their price objective on shares of Cardinal Health from $100.00 to $95.00 in a report on Wednesday, October 11th. Finally, StockNews.com started coverage on shares of Cardinal Health in a report on Thursday, October 5th. They issued a “strong-buy” rating on the stock.

Check Out Our Latest Analysis on Cardinal Health

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, CEO Deborah Weitzman sold 36,642 shares of Cardinal Health stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $106.31, for a total transaction of $3,895,411.02. Following the transaction, the chief executive officer now owns 35,202 shares of the company’s stock, valued at $3,742,324.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Cardinal Health

Several institutional investors and hedge funds have recently modified their holdings of CAH. Gradient Investments LLC raised its position in shares of Cardinal Health by 106.7% during the second quarter. Gradient Investments LLC now owns 277 shares of the company’s stock valued at $26,000 after buying an additional 143 shares during the last quarter. Cornerstone Planning Group LLC bought a new stake in Cardinal Health in the third quarter worth $26,000. Covestor Ltd increased its position in Cardinal Health by 59.8% in the second quarter. Covestor Ltd now owns 294 shares of the company’s stock worth $28,000 after purchasing an additional 110 shares during the last quarter. Stonebridge Capital Advisors LLC bought a new stake in Cardinal Health in the second quarter worth $29,000. Finally, BKM Wealth Management LLC bought a new stake in Cardinal Health in the fourth quarter worth $30,000. Institutional investors own 86.01% of the company’s stock.

Cardinal Health Stock Down 0.9 %

Shares of CAH stock opened at $105.47 on Friday. The company has a 50 day moving average price of $104.38 and a 200-day moving average price of $95.93. Cardinal Health has a 52 week low of $68.53 and a 52 week high of $108.85. The firm has a market capitalization of $26.00 billion, a PE ratio of 172.90, a P/E/G ratio of 0.98 and a beta of 0.71.

Cardinal Health (NYSE:CAH – Get Free Report) last announced its quarterly earnings results on Friday, November 3rd. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.33. Cardinal Health had a net margin of 0.07% and a negative return on equity of 60.27%. The firm had revenue of $54.76 billion during the quarter, compared to analyst estimates of $54.85 billion. During the same period in the previous year, the business posted $1.20 earnings per share. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. Analysts anticipate that Cardinal Health will post 6.99 earnings per share for the current year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 15th. Shareholders of record on Tuesday, January 2nd were issued a dividend of $0.5006 per share. This represents a $2.00 annualized dividend and a yield of 1.90%. The ex-dividend date was Friday, December 29th. Cardinal Health’s dividend payout ratio is currently 327.87%.

About Cardinal Health

(Get Free Report

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.

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